Bailard Inc. Takes Position in TriCo Bancshares (TCBK)
Bailard Inc. purchased a new stake in shares of TriCo Bancshares (NASDAQ:TCBK) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 17,700 shares of the financial services provider’s stock, valued at approximately $684,000. Bailard Inc. owned about 0.06% of TriCo Bancshares at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of TCBK. Walthausen & Co. LLC purchased a new stake in shares of TriCo Bancshares during the third quarter valued at approximately $11,477,000. Stieven Capital Advisors L.P. purchased a new stake in shares of TriCo Bancshares during the third quarter valued at approximately $9,732,000. BlackRock Inc. increased its position in TriCo Bancshares by 15.1% in the third quarter. BlackRock Inc. now owns 1,823,597 shares of the financial services provider’s stock worth $70,429,000 after buying an additional 239,853 shares during the last quarter. FMR LLC increased its position in TriCo Bancshares by 7.0% in the third quarter. FMR LLC now owns 2,066,828 shares of the financial services provider’s stock worth $79,821,000 after buying an additional 134,374 shares during the last quarter. Finally, Millennium Management LLC increased its position in TriCo Bancshares by 159.6% in the second quarter. Millennium Management LLC now owns 111,710 shares of the financial services provider’s stock worth $4,184,000 after buying an additional 68,680 shares during the last quarter. 59.99% of the stock is owned by institutional investors.
A number of research firms have issued reports on TCBK. ValuEngine raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, October 29th. Zacks Investment Research raised TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. Finally, BidaskClub downgraded TriCo Bancshares from a “buy” rating to a “hold” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $43.60.
TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Monday, October 29th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.53. TriCo Bancshares had a return on equity of 9.80% and a net margin of 18.77%. The business had revenue of $72.68 million during the quarter, compared to the consensus estimate of $72.54 million. On average, equities research analysts predict that TriCo Bancshares will post 2.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This is a boost from TriCo Bancshares’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 2.09%. TriCo Bancshares’s payout ratio is 32.69%.
TriCo Bancshares Company Profile
TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to retail customers and small to medium-sized businesses. It accepts demand, savings, and money market accounts, as well as time deposits; and provides residential and commercial real estate mortgage, consumer, commercial, agricultural, and real estate construction loans.
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